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German KNAUF to invest in Belgips

The KNAUF company from Germany intends to invest in the company Belgips, Deputy Minister of Architecture and Construction of Belarus Vladimir Malets told the national board of directors of the Belarusian Scientific and Industrial Association on 4 August. 

Belarus has been negotiating with this investor for a long time already. “A task group was set up, it has already studied all the proposals that will lay the ground for the ordinance on the KNAUF investment in Belgips,” Vladimir Malets said. We are talking about the establishment of a virtually new company outside Minsk . This project is deemed extremely important for the industry, the Deputy Minister noted. 

He released the plans to transform two cement factories – the Belarusian Cement Plant and Krichevtsementnoshifer - into joint-stock companies. This will increase the authorization of capital and enhance their investment appeal. 

Vladimir Malets reminded that large-scale modernization projects in the cement industry are underway. The projects are implemented with the help of Chinese investment ($500 million and 200 million yuan) attracted on beneficial terms. These projects will help boost the production capacities and manufacture up to 10 million tonnes of cement in 2011. 

The implementation of an investment project at Granit company is in full swing, too. A new mining and processing combine will be built here; its capacity will be 10 million tonnes of construction materials. The applications to take part in this project were received from Finland, Russia, Czechia and Sweden

The Belarusian glass industry is experiencing a large-scale modernization, too. “In 2009 we are completing an investment project at Gomelsteklo implemented with the help of German loans and Hermes insurance company. At present Gomelsteklo is selling its shares in line with the privatization programme. The controlling stake will belong to the state. This project will enable the company to significantly expand the product portfolio. “It is an essential part of import substituting efforts,” Vladimir Malets underlined. 

The Ministry of Architecture and Construction is looking for new markets of construction services. “After our success on the first serious market, Venezuela, we started to explore the markets of Turkmenistan and Azerbaijan ,” the Deputy Minister said.




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